Accenture Recognized as Market Leader for Mobile Wallet Platform

Accenture has been named a “Market Leader” for the Accenture Mobile Wallet platform in the “Ovum Decision Matrix: Selecting a White-label Mobile Wallet Platform,” scoring the highest overall technology assessment ranking in the report.

“While relatively new, the Accenture Mobile Wallet platform has among the most extensive capabilities of platforms available on the market today,” said Gilles Ubaghs, senior analyst at Ovum and author of the report. “With Accenture’s emphasis on the use of APIs to allow for the integration and development of value-added services as part of a complete wallet program, flexibility is built into the solution, which will be increasingly critical over time.”

Among the strengths noted regarding the white-label Accenture Mobile Wallet platform is the focus on the highly modular architecture, which allows users to plug-and-play the pieces of the solution that they require. With a focus on API integration and management, these modules can be easily integrated and configured with wallet providers’ broader infrastructures, while ensuring the flexibility to integrate new value-added services in the future.

“Being ranked as a Market Leader in this report reinforces our belief that clients today are looking for a modular, flexible, enabling white-label mobile wallet platform as they start to roll out their wallet ecosystems,” said Robert Hasson, managing director of digital commerce, Accenture Mobility. “The technology underlying our platform includes key elements from across Accenture Digital, integrating advanced analytics and big data capabilities with our customer recommendation tools to create personalized offers in real-time. For clients that are happy with elements of their existing payment and marketing infrastructures, these modular capabilities are excellent tools to further enhance the experience for their customers by offering them a more engaging, relevant service that can build their loyalty.”

The Ovum Decision Matrix report provides a detailed assessment of seven mobile wallet platform vendors, including a summary of each vendor’s mobile wallet platform capabilities based on a quantitative assessment of its influence on the global white-label mobile wallet platform market, and the quality and breadth of the functionality provided by its platform and underlying technology. According to Ovum, the “Market Leaders” category represents the leading platforms that are worthy of a place on most technology-selection shortlists. Vendors in this category have established a commanding market position with a product that is widely accepted as best-of-breed.

The Accenture Mobile Wallet platform is a robust, modular white-label platform that underpins a digital commerce ecosystem. It provides a range of enabling capabilities, including:

  • Allowing end-users to manage and operate all of their cards, including credit, debit, loyalty and gift cards
  • Recommending relevant ‘next best offer’ promotions to customers based on their location, transaction history data and additional data sources
  • Managing mobile proximity transactions and payments at point of sale
  • Allowing users to send money to existing users or future users, reducing the need for any other tools in financial transactions

In an earlier report1 from analyst firm 451 Research, it was noted that: “Accenture has developed an end-to-end mobile commerce solution with the necessary features to meet the needs of operators, financial institutions and retailer consortiums looking to deploy a mobile wallet. In particular, the modularity of its platform in conjunction with its Accenture Recommendation Engine and Accenture Analytics solution positions the consulting giant’s platform as an attractive precision marketing tool.”

With acquisitions including digital agency Reactive, service design company Fjord, and advanced analytics software platform provider i4C Analytics, Accenture is able to adapt the white-label, modular platform to enable many advanced services that businesses could benefit from as part of a complete digital commerce ecosystem. This can then be managed either on-premise, via Software as a Service or as a hybrid cloud model.

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